Nomura Holdings Inc. lessened its position in Chemours Co (NYSE:CC) by 72.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,999 shares of the specialty chemicals company’s stock after selling 25,710 shares during the period. Nomura Holdings Inc.’s holdings in Chemours were worth $444,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CC. Alambic Investment Management L.P. bought a new stake in shares of Chemours during the 2nd quarter valued at about $519,000. Systematic Financial Management LP bought a new stake in shares of Chemours during the 2nd quarter valued at about $1,298,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Chemours during the 2nd quarter valued at about $247,000. Fosun International Ltd bought a new stake in shares of Chemours during the 2nd quarter valued at about $449,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Chemours by 39.2% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 29,819 shares of the specialty chemicals company’s stock valued at $1,323,000 after purchasing an additional 8,401 shares in the last quarter. 76.69% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on CC shares. ValuEngine lowered shares of Chemours from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Morgan Stanley cut their target price on shares of Chemours from $57.50 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Chemours in a research note on Thursday, September 13th. Barclays reaffirmed a “buy” rating and set a $62.00 target price on shares of Chemours in a research note on Tuesday, August 7th. Finally, BMO Capital Markets lowered their price target on shares of Chemours from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $59.00.
Shares of NYSE CC opened at $39.27 on Thursday. Chemours Co has a 1 year low of $38.49 and a 1 year high of $58.08. The stock has a market cap of $6.96 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 0.44 and a beta of 2.73. The company has a debt-to-equity ratio of 3.86, a current ratio of 2.09 and a quick ratio of 1.47.
Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, August 2nd. The specialty chemicals company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.18. Chemours had a net margin of 15.11% and a return on equity of 107.22%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company posted $0.87 EPS. Chemours’s revenue was up 14.4% on a year-over-year basis. research analysts forecast that Chemours Co will post 5.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 17th were given a dividend of $0.25 per share. This is a boost from Chemours’s previous quarterly dividend of $0.17. This represents a $1.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, August 16th. Chemours’s dividend payout ratio (DPR) is 26.18%.
Chemours Company Profile
The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Fluoroproducts, and Chemical Solutions. The Titanium Technologies segment manufactures and sells titanium dioxide under the Ti-Pure and BaiMax brands for various applications in architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride window profiles, laminate papers used for furniture and building materials, and coated papers and paperboards used for packaging.
Read More: Dividend Stocks – Are They Right For You?
Want to see what other hedge funds are holding CC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chemours Co (NYSE:CC).
Receive News & Ratings for Chemours Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chemours and related companies with MarketBeat.com's FREE daily email newsletter.